Home News Q1 2024: Customs earns N303.9b in Tincan

Q1 2024: Customs earns N303.9b in Tincan

5 min read

The Customs Area Commander at Tincan Island Ports (TCIP) Comptroller Dera Nnadi, on Thursday, 18 April, announced that the command generated N303.9 billion in revenue in Q1 2024 as against N126.8 billion recorded in the same period of 2023.

In a statement by the public relations officer of the port, Ngozi Okwara, Nnadi indicated that the income for the first quarter of 2024 was 139 per cent more than that of the corresponding period in 2023.

The Customs Area Commander revealed that the income differential between Q1 2024 and Q1 2023 was N177 billion.

The breakdown, he said, showed that the command collected a total of N88.4 billion in January 2024 which is 107.9 per cent upscale from the same period of 2023 which was N42.5 billion.

He said: “The command also generated N100.3 billion in February 2024, which is 141.8 per cent higher than the revenue collected in the same period in 2023 which was N41.5 billion.

“In March 2024, the command collected the sum of N115.1 billion revenue as against N42.8 billion collected in the same period of 2023”.

While he appreciated the officers in all the units, Nnadi stressed that improvement and success in the Area Command was a result of their efforts.

“I wish to remind the officers that all stakeholders should be held in high esteem and treated with respect but with due diligence to identify compliant and non-compliant traders.

The customs boss emphasised the enforcement unit’s unwavering commitment to combating smuggling and criminal activities, highlighting the unit’s coordination of comprehensive physical examinations with key stakeholders noting that the command’s compliance with international trade cycles is ensured through these measures.

He explained that in the period under review, a total of 57 packets of Heroine weighing 56.390kg as well as 3612 packets of Colorado Indica weighing 956.772kg with a street value of ₦902.24 million and ₦4.06 billion respectively were seized.

“All the seized illicit drugs have been handed over to the relevant sister agencies as directed by the service.

“In the past few months, the command has hosted different sections of the stakeholders’ forum – shipping companies, terminal operators, freight forwarders, security agencies, etc.

Nnadi also underlined the Command’s unrelenting efforts in ensuring the decongestion of the Ports to create a level playing field for importers and stakeholders.

According to the Tincan Island Ports Customs’ Chief, export trade recorded exponential growth in terms of volume (MT) and value (FOB) within the same period under review.

He said: “Comparatively, the tonnage of goods exported via TCIP increased from 145,906.33 mT in 2023 to 251,679.89 mT in 2024 and represents an increase of 95.3 per cent.

“Also, there is an over 300 per cent increase in the FOB value of the exports from N80.993 billion to N287.79 billion of Q1 2023 and 2024 respectively.

“Exports from the Command include essentially agricultural and other allied products, namely Cocoa Butter, Cocoa Beans, Cashew Nuts, etc”.

Furthermore, Nnadi commended the Comptroller-General of Customs (CSG), Bashir Adeniyi, for his management team and continuous efforts towards improving the effectiveness of service.

The CSG, he continued, had also implemented cutting-edge techniques to carry out its statutory function under global best practices.

Load More Related Articles
Load More By Breezynews
Load More In News

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

50-year-old man dies watching football match

A yet to be identified man has died allegedly watching football in an open bar along Lagos…